Positives & Negatives of Owning a Condo

Again, for most folks, the primary benefit to owning a condo is the lesser exterior maintenance that it affords.  Another thing that most condo owners value is when the homeowner’s association plays an active role in “policing” the upkeep of the neighborhood.  This isn’t always the case, but generally a condo has a more active homeowner’s association and often that involves ensuring that neighbors do their part to keep the community looking good while the HOA helps keep it running smoothly.

Another major reason that people chose condos is for the potential savings from the economies of scale when purchasing property maintenance services.  For example, the condo community can generally purchase the services of a lawn-care company to care for the entire neighborhood at a reduced expense compared to if each individual owner were to hire that same company separately.

Amenities are often another potential benefit of condominium style living.  Maybe these include things like security guards or gated entrances or swimming pools, clubhouses, etc.  The question

The primary potential negative to owning a condo is that you lose control over how the exterior maintenance is performed.  If you have a bad HOA and/or a bad property manager, then poor maintenance, special assessments, even fraud and kickbacks can result.